NEW DELHI – Bharti Enterprises has signed an agreement with Dixon Technologies to form a joint venture to build telecom equipment, including IoT devices, modems, routers and set-top boxes.

Bharti Enterprises will take a 26% stake in the venture, while Dixon will hold a 74% stake, say reports.

“We see [Bharti] as our ideal long-term strategic partner. We intend to leverage each other’s strengths to manufacture telecom and networking products,” said Dixon CFO Saurabh Gupta.

The venture will file for the Indian government’s Production Linked Incentive Scheme to receive financial benefits as a manufacturer of telecoms equipment in the country.

Dixon is India’s largest domestic EMS company.

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